Chick-fil-A (GL)

11700 Middlebelt Road, Livonia, MI 48150

$2,831,325

Cap Rate 4.15%

Views: 26 DOM: 64 Updated: 04.25.24 Posted: 03.14.24 Status: Active

Summary

Price $2,831,325	Built/Renov 2022	Tenant Chick-fil-A (GL)
Cap Rate 4.15%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 4,995	Lease Start 10-06-2022	#Units 2,806
Price/SF $566.83	Expiration 10-31-2037	Tenant Type Fast Casual/Rest.
NOI $117,500	R. Term 13.5	Ownership Ground Lease
Rent/SF $23.52	Increases 10.0%/3/yrs	Pop 5Mi 101,480
Lot/AC 0.87	Options 8/5yrs/10%	AHHI 5Mi $89,054

Jordan Shtulman

STREAM Capital Partners

Contact

Lease Highlights

Chick-fil-A has 13+ years remaining on the current ground lease term with 8 (5-year) options to extend
The lease features 10% rental escalations throughout the initial term and option periods
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Chick-fil-A is strategically located near the signalized, hard corner intersection of Middlebelt Road and Plymouth Road, with access to a substantial combined daily traffic count of 62,000 vehicles. The property is also adjacent to Trinity Health Urgent Care. The surrounding area features well-known national tenants, including Firestone, Five Guys, Chili's, Walmart, GameStop, and more. The...

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Key Features

New construction
Dense retail corridor
Near major nationals
Shopping Ctr out-parcel
Top 100 MSA
Strong demographics
Absolute NNN
Long 10+ yr lease
Over 2000 units backed
Corporate Guarantee

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Links

Chick-fil-A Wikipedia Chick-fil-A Wikipedia Livonia, Michigan Zip Code 48150 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Chick-fil-A
Guarantor:Corporate
Company:Chick-fil-A Inc.
# Units:2,806
Stock:Private

About Tenant

Chick-fil-A is one of the largest American fast-food restaurant chains, and the largest specializing in chicken sandwiches. Chick-fil-A was first opened in 1946 in Atlanta, Georgia, under the name...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	7,629	99,392	296,634
2023 Total Population :	7,807	101,240	301,558
2023 Employed Civilian Pop :	4,431	52,233	146,452
2023 Total Businesses :	452	3,410	8,350
2023 Average Household Income :	$ 102,245	$ 92,238	$ 86,225
2023 Total Consumer Spending :	$ 284 M	$ 3357 M	$ 9275 M
2023 Median Age :	40	43	42
2023 Total Households :	3,207	41,830	123,381
2023 Pop Age 25+: Bachelor's Degree :	1,315	16,186	42,037
2023 Average Home Value :	$ 178,213	$ 201,050	$ 205,862

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Plymouth Road	Middlebelt Rd	2022	18,780	0.06 mi
Middlebelt Rd	Plymouth Rd	2008	35,330	0.08 mi
Plymouth Rd	Camden St	2015	18,630	0.27 mi
Middlebelt Road	Plymouth Rd	2022	38,362	0.40 mi
Industrial Rd	Service Rd	2021	38,324	0.40 mi
MIDDLEBELT RD	Service Rd	2020	38,324	0.44 mi
Plymouth Rd	Sears St	2012	20,901	0.52 mi
W Chicago St	Middlebelt Rd	2011	3,602	0.56 mi
Middlebelt Rd	Hathaway	2008	35,792	0.59 mi
Harrison Street	S Clements Cir	2022	1,385	0.71 mi

Listing Broker

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